2023-07-25 11:22:00
92.5 billion dirhams of government expenditures in 3 months
Dubai – Al Arabiya.net
Posted on: July 25, 2023: 03:22 PM GST Last updated: July 25, 2023: 03:34 PM GST
Data from the UAE Ministry of Finance showed that a financial surplus of 23.1 billion dirhams was recorded in the first quarter of this year, following achieving revenues of 115.6 billion dirhams, compared to expenditures of 92.5 billion dirhams.
The Ministry of Finance stated in a statement today, Tuesday, that the value of revenues was distributed among 63.5 billion dirhams of tax revenues, 3.9 billion dirhams of social contributions revenues, and 48.2 billion dirhams of other revenues, which include property income from assets, sales of goods and services, fines, penalties and unclassified transfers.
According to data from the Ministry of Finance, expenditures at the state level during the first quarter of 2023, amounting to 92.5 billion dirhams, were distributed between capital expenditures and current expenditures, which include compensation for workers, the use of goods and services, consumption of fixed capital, paid interests, subsidies, grants, social benefits, and other transfers.
In terms of the results of the statement of financial operations during the first quarter of 2023, the value of net lending or borrowing at the state level amounted to regarding 23.2 billion dirhams.
Net lending/borrowing is a summary measure of governments’ ability to lend or their need to borrow, and is also an indicator of the financial impact of government activity on other sectors of the economy.
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